Never too late to jump into REI and right now thing are getting even better with mortgage rates getting ready to drop over the next few month.I am here to help offer my 19 years of eperience in the REI game and how to avoid the basic pitfalls and also how to take advantage of the new programs out over the last few months and which loopholes to use.   

If it’s just basic stuff like collecting rent, it’s more like 6-8%, but for full-service management—think tenant screening, maintenance, and detailed reports—it often lands at 8-10%, depending on the property’s size, age, or spot in Naperville.

The basics — what you’ve got here:Purchase: $700kCap rate (current): 6.5%Renovations: $200kPro forma NOI: ~$45k/year ($3,750/month)If you hit that NOI after rehab, your stabilized value at a 6.5% cap would be about $692k ($45k ÷ 0.065) — which means you’d be all-in for $900k ($700k + $200k) on something worth $692k today.

RentPrep is another affordable choice, offering basic checks for about $21.95 or more detailed reports with credit info for around $40.

It’s basically the city sending you a progress report.If usage jumps, something’s running.

Some add a basic cable or YouTube TV/Hulu Live subscription if they want to cover sports, but it’s not expected everywhere.

The reality is most PMs are busy and won’t drop everything to answer every question, but they should at least be willing to schedule an intro call and walk you through the basics.

Basically does it all and the customer service and response time on the in app or online chat is insanely fast. 

They are a CDFI (Community Development Financial Institution) which basically means they get special Federal funding in return for meeting community support/development goals.

Even a basic grasp of those concepts will help you evaluate deals more effectively.